KUALA LUMPUR, Aug 1 —The ringgit ended lower against the US dollar today as the US Dollar Index (DXY) paused its three-day downtrend around the monthly low. The DXY, which was...
KUALA LUMPUR, Aug 1 —The ringgit ended lower against the US dollar today as the US Dollar Index paused its three-day downtrend around the monthly low.
At 6 pm, the local currency eased to 4.4529/4540 versus the greenback from last Friday’s close of 4.4495/4520. “The two consecutive quarters of Gross Domestic Product contraction suggests that the US economy is expected to experience a slowdown in the second half of the year. Meanwhile, SPI Asset Management managing partner Stephen Innes said there has been a slightly odd price reaction to the misses in the China Caixin purchasing managers’ index for the manufacturing sector, which came in at 49 in July, down from 50.2 in June, and South Korea’s exports data.
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